Nick Cazana, president of Commercial and Investment Properties, details plans for The Tennessean, a hotel with two floors of residences, overlooking downtown, World's Fair Park and the Smoky Mountains.

Great news - and really great views - today as developer Nick Cazana and his team officially launched The Tennessean Personal Luxury Hotel & Residences.

Cazana detailed his project from the top floor of what has been former state office space at 531 Henley St. with a spectacular backdop of downtown Knoxville. Touring the 7th floor, dozens of guests were treated to differing views of downtown and of World's Fair Park and Fort Sanders. The Great Smoky Mountains could be admired looking south.

Mayor Madeline Rogero said downtown redevelopment is hitting its collective stride, and The Tennessean launch adds to the momentum. The $28 million private investment will create an 82-guestroom hotel and 12 residences.

The development will increase property values, create 60 to 75 permanent new jobs and generate new hotel and sales taxes estimated at more than $600,000 a year. The Tennessean, next door to the Convention Center, creates a new luxury hotel option for visitors. Adding to downtown's overall hotel room capacity will help as Knoxville continues to expand our reputation as a convention and tourism destination.

The City is providing Payment in Lieu of Taxes assistance to The Tennessean, as well as making a $2.7 million investment in public infrastructure in the western end of downtown. To improve the experience of pedestrians and bicyclists approaching World's Fair Park and the Convention Center, the City has rejuvanted the pedestrian bridge crossing Henley Street with frosted glass and decorative lighting. Streetscape amenities have added to Clinch Avenue, and canopies have been added or upgraded that connect the Convention Center with three hotels.

Congratulations to The Tennessean on Thursday's launch! It will be exciting to watch the reconstruction and repurposing of the building in the coming year.

Here are a few of the views from The Tennessean:

View from the 7th floor of the Tennessean, looking eastward across downtown.